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The future of the service apartment industry

The service apartment industry:

Say you want to travel on business and you know that you are going to take a long time before you can clinch the deal. Because there is loads of paper work to be completed. And also you don’t have any idea how long it is going to be, you decide not to go in for the star hotels because the first thing first is that it makes you feel homesick. Secondly, it is one thing to give wads and wads of currency notes to a hotel because hotel rooms do not come cheap. Third and the primary reason is that since you are practically far away from home for such a long time and you are mentally prepared for it, you decide that you might as well hire an accommodation which you can call as home albeit even temporarily.

But remember you are working!

Much as you want to stay in a permanent place as call it your home for the time being in contrast with the impersonal hotel rooms, you must remember that you are in the new place for business. This precisely means that you cannot give the home the time that it requires and therefore you will need someone to look after your temporary home while you are away earning your own bread and butter!

Step in serviced apartments:

The industry may still be in its naïve years but if industry statistics is to be believed the industry is right now growing by various leaps and bounds. There is a huge growth potential for such serviced apartment industry. They are now popularly called as the ‘Aparthotels’. It is the combination of the two words namely the apartment and the hotel. It promises the luxury of the apartment with the conveniences of the hotel.

What is on offer?

An aparthotel or a serviced apartment is a fully furnished apartment with some of the conveniences of the hotel check online. The security and the room service can be provided. This apart from the fact that there is also a kitchen which is fully fitted and functional incase the traveler does want t to try his hand at making the food himself. Otherwise, if he wants to source the food from the restaurant, he may very well do so.

Who are the people who can fully benefit from such Aparthotels? Check

Business travelers

Leisure travelers

Family travelers

And people who are in transition of shifting homes

The serviced apartments are cost effective:

The service apartments are extremely cost effective and therefore an ideal choice for a longer stay as they do not hurt the wallet too much. Also since the person is prepared mentally for a longer trip, he need not have any hassles of being adjusted to the hotel room. Here is a place which is similar to his home and there is no pressure of any sort.

There is a big demand for the serviced apartments:

There has been an unprecedented growth in the travel industry in the past ten years or so. The number of international travelers in the global arena s increasing every day and this is a good sign and an indication that there are good days that are ahead of these kinds of facilities. Market researchers have already proved that the demand far exceeds the supply.

If you think that this statement may be an exaggeration, check it out yourself. As a project we tried logging on to the internet to be able to book a service apartment in London for a month’s time. But it was a tough task because every apartment worth its salt was booked or reserved. The supply is definitely deficit and this could be easily seen and understood.

The scene in London:

Fresh estimates say that 8000 serviced apartments are what are available in London as of now. A few more are in the process of being built and the rest are being commissioned. But overall, there is a scope of the industry growing at more than 500%.

What this means is that more and more companies and hotel chains are now concentrating on building serviced apartments and lesser on hotel rooms. This industry is showing signs of recovering from post recession period.

There are positive signs that the industry is building itself up to meet the challenges of the future. Way to go is what we have to say!

Design is constant challenge to balance comfort with luxe, the practical with the desirable.